Strategy adjustment through new partner model

Publication of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

Enapter AG: Strategy adjustment through new partner model

• Partners will be able to build and market their own electrolyzers with AEM stacks from Enapter in the future
• Enapter focuses on stack construction at the Pisa plant through partnership with Chinese Wolong Group and will lease hall and office space in Saerbeck

Hamburg, 31. May 2024. Enapter AG (ISIN: DE000A255G02) is introducing an adapted sales and production strategy. The focus will be on the so-called stack, the patent-protected core of every AEM electrolyzer, which is responsible for hydrogen production. Enapter will continue to produce its own electrolysers with its joint venture partner Wolong and install its stacks in these devices. At the same time, Enapter is expanding its range of services and will in future also make the stacks available to industrial partners (core partners), who can install Enapter's AEM hydrogen cores in their own electrolysers and use the corresponding operating software.

To date, Enapter has independently produced the single-core devices of the EL class as well as the devices of the multi-core class, in which up to 420 individual stacks are installed and which generate hydrogen in the megawatt range. In future, the company will concentrate on the production of stacks at its site in Pisa, Italy. With the strategy adjustment, the production and assembly of all other systems (balance of plant) beyond the stack that are required for an electrolyzer - including water tanks, pipe and line systems and the housing - will be taken over by Chinese joint venture partner Wolong Enapter Hydrogen Technologies Ltd (see press release dated 29.01.2024). Wolong will supply the finished devices without the stack to Enapter. Enapter will then equip them with the stacks and install the operating software. This means that the core competence of stack production will remain with Enapter. It is expected that the entire production of the EL class will be outsourced to China from January 2025. The production resources thus freed up in Pisa will be focused on the existing stack production there. It is therefore to be expected that there will be no expansion of production in Saerbeck in the short to medium term. In order to generate further additional income, the hall and office space in Saerbeck has been leased to third parties. The company expects annual income of around EUR 2 million once the space is fully let. The contracts will be structured in such a way that stack production can be taken up in Saerbeck in the event of a significant increase in demand for additional production capacity.

About Enapter

Enapter is an innovative energy technology company that manufactures highly efficient hydrogen generators - so-called electrolysers - to replace fossil fuels and thus drive the energy transition globally. The patented and proven anion exchange membrane technology (AEM) enables the series and mass production of cost-effective electrolysers for the production of green hydrogen on any scale and almost anywhere in the world. The modular systems are already being used by more than 340 customers in over 50 countries worldwide, including in the energy, mobility, industrial, heating and telecommunications sectors. The Enapter Group is headquartered in Germany and has an R&D and production site in Italy.

Enapter AG is listed on the regulated market of the Frankfurt and Hamburg stock exchanges, ISIN: DE000A255G02.

Further information:

Website: https://www.enapter.com
Twitter: https://twitter.com/Enapter
LinkedIn: https://www.linkedin.com/company/enapter
Facebook: https://www.facebook.com/enapterenergystorage
Instagram: https://www.instagram.com/enapter/

Contact financial and business press:

Ralf Droz / Doron Kaufmann
edicto GmbH
Phone: +49 (0) 69 90 55 05-54
E-mail: enapter@edicto.de